The news media has been saying for the past week that the majority of voters are against the rescue bill, and that calls to Congressmen are running “200 to 1” against the deal.
No doubt the most motivated people called their congressperson, and anger is a lot more motivating than grudging support. However, there’s one tiny little detail worth noting: the majority of the public supports the bailout.
By a margin of almost two-to-one the American public thinks the government is doing the right thing in investing billions of dollars to try to keep financial institutions and markets secure, according to the Pew Research Center for the People and the Press. Reacting to initial reports of the federal bailout plan over the weekend, 57% said the government was doing the right thing, while 30% said it was doing the wrong thing. At the same time, only 19% of the public believes that the government is currently doing an excellent or good job in handling the financial problems on Wall Street. Support for the administration’s plan to bailout many of the nation’s troubled financial institutions is largely bipartisan.